EX-12.2 4 exhibit122.htm STATEMENT SETTING FORTH COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES OF PUGET SOUND ENERGY, INC. (2005 THROUGH 2009) exhibit122.htm
                     
Exhibit 12.2
  
PUGET SOUND ENERGY
  
STATEMENT SETTING FORTH COMPUTATIONS OF RATIOS OF
  
EARNINGS TO FIXED CHARGES
  
(Dollars in Thousands)
  
                               
   
 
                          
   
 
                          
    Years Ended December 31,  
   
2009
    
2008
    
2007
    
2006
    
2005
  
Earnings Available For Fixed Charges:
                              
Pre-tax income:
                              
   Income from continuing operations before income taxes
   $ 226,888     $ 223,618     $ 265,308     $ 275,339     $ 233,900  
   AFUDC - equity
     (4,177 )     (2,627 )     (1,351 )     (7,978 )     (3,800 )
   AFUDC - debt
     (9,214 )     (8,610 )     (12,614 )     (15,874 )     (9,493 )
Total
   $ 213,497     $ 212,381     $ 251,342     $ 251,487     $ 220,607  
Fixed charges:
                                        
   Interest expense
   $ 211,742     $ 203,402     $ 219,120     $ 184,859     $ 174,458  
   Other interest
     4,177       2,627       1,351       7,978       3,800  
   Portion of rentals representative of the interest factor
     8,444       11,775       9,199       9,151       5,234  
Total
   $ 224,363     $ 217,804     $ 229,670     $ 201,988     $ 183,492  
Earnings available for combined fixed charges
   $ 437,860     $ 430,185     $ 481,012     $ 453,475     $ 404,099  
                                         
Ratio of Earnings to Fixed Charges
     1.95 x     1.98 x     2.09 x     2.25 x     2.20 x